The real problem?….
can’t get these houses to market and sold. Even for pennies on the dollar. Buying and selling a million of these a year would really kick off the next boom.
Oba mama has to get his ass in gear. The rest of TARP is spent on unions this fiscal year to get the 2012 campaign on track. Expect big pick up in the economy, even if it’s the usual bullshit statistics, in 2012 to get him across the finish line against a Republican nobody.
Actually pridictable because the guys who pay for this love “gridlock” because the their slimy politicians can blame everything on their opposition for not getting anything done.
I expect a pretty big “tax refund” to kick off the campaign because broke dicks don’t vote for slimy bastards who steal their money and give it to assholes on Wall Street. They vote for slimy bastards who give them money!
Bet the farm on it! The boom is coming!
Foreclosure Fraud: It’s Worse Than You Think
Published: Tuesday, 12 Oct 2010 | 1:14 PM ET
By: Diana Olick
CNBC Real Estate Reporter
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There has been plenty of pontificating over the ramifications of foreclosure freezes on troubled borrowers, foreclosure buyers and the larger housing market, not to mention lawsuits, investor losses and bank write downs. There has been precious little talk of what the real legal issues are behind the robosigning scandal. Yes, you can’t/shouldn’t sign documents you never read, but that’s just the tip of the iceberg. The real issue is ownership of these loans and who has the right to foreclose. By the way, despite various comments from the Obama administration, foreclosures are governed by state law. There is no real federal jurisdiction.